Photonic has raised CA$180 million (US$130 million) in the first close of its latest investment round, led by Planet First Partners, with participation from new investors Royal Bank of Canada (RBC), TELUS, and others.
This significant raise underscores strong investor confidence and the company’s rapid growth. Existing investors —-including BCI and Microsoft – also returned for this round, bringing the total raised by the company to US$271 million.
Photonic is accelerating the path to fault‑tolerant quantum systems with their Entanglement First Architecture —- a unique approach that combines silicon‑based qubits and native photonic connectivity, enabling seamless scaling across existing global telecom infrastructure.
With this new funding, the company will continue advancing key product milestones toward commercialization, expanding its technical and business teams, and deepening customer and partner engagements.
“Quantum computing can unlock breakthroughs in clean energy, advanced materials, and human health that are beyond the reach of classical systems,” said Nathan Medlock, managing partner at Planet First Partners, who is joining the board.
Paul Terry, CEO of Photonic, said this funding round attracted not only new financial investors but also partners from sectors poised to be transformed by quantum technology—including sustainability, telecommunications, finance, and security.
“We believe Photonic’s scalable quantum architecture has the potential to unlock key applications in the financial sector, ranging from security through to portfolio optimization and risk modelling. ,” said Barrie Laver, managing director and head of Venture Capital & Private Equity with Royal Bank of Canada.
